Estée Lauder: Q1 adjusted EPS down 14% but dividend up 10%
(CercleFinance.com) - Cosmetics group Estée Lauder has reported Q1 2020-21 adjusted EPS that is down 14% to 1.
44 dollar, excluding currency effects, although this significantly beat the consensus, while its revenues fell by 9% (both overall and at constant exchange rates) to 3.56 billion dollars.
The decline in sales was driven by some temporary shop closures and reduced footfall in shops that remained open, which is due to the Covid-19 pandemic, even though this was partly offset by strong online growth, the cosmetics group said.
For the current quarter, Estée Lauder expects adjusted EPS of 1.45-1.60 dollar, along with revenues that are down by 6% to 8%, excluding FX factors and changes in its consolidation scope. Uncertainty surrounding the pandemic is preventing the group from providing any FY targets.
Alongside ths publication its Board of Directors has decided to increase its quarterly dividend by 10%, now paying a dividend of 53 cents per share (class A or B), vs. 48 cents previously. It will be paid on 15 December to shareholders on record on 30 November.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
44 dollar, excluding currency effects, although this significantly beat the consensus, while its revenues fell by 9% (both overall and at constant exchange rates) to 3.56 billion dollars.
The decline in sales was driven by some temporary shop closures and reduced footfall in shops that remained open, which is due to the Covid-19 pandemic, even though this was partly offset by strong online growth, the cosmetics group said.
For the current quarter, Estée Lauder expects adjusted EPS of 1.45-1.60 dollar, along with revenues that are down by 6% to 8%, excluding FX factors and changes in its consolidation scope. Uncertainty surrounding the pandemic is preventing the group from providing any FY targets.
Alongside ths publication its Board of Directors has decided to increase its quarterly dividend by 10%, now paying a dividend of 53 cents per share (class A or B), vs. 48 cents previously. It will be paid on 15 December to shareholders on record on 30 November.
Copyright (c) 2020 CercleFinance.com. All rights reserved.